In line with its pledge to honor the financial commitments to police officers who worked overtime in 2013 and to make good on the outstanding funds owed to CLICO policyholders, the Minnis administration has budgeted $5.6 million for overtime pay for officers and another $10 million for distressed policyholders in the upcoming fiscal year.
According to the budget, the government will commit another $10 million for CLICO payouts in 2018/2019 and a further $10 million for the same in 2019/2020.
CLICO (Bahamas) went through a court-ordered liquidation in 2009. The final payout of approximately $38 million was originally expected to be made in January.
As of last December, liquidators Leno Corporate Services and other professionals were completing a business plan and funding structure that would ultimately be approved by the Insurance Commission of The Bahamas and the Supreme Court, according to the former government.
In April, the former government announced proposed payments for April, July and November 2017.
The first payout took place from March 1 to June 30, 2016.
This encompassed approximately 3,389 issued checks, totaling over $11 million. Around 300 policyholders were left out of the first payout. Police officers received their first round of payments on May 29.
In 2013, officers were called upon to work 12-hour shifts in response to increased levels of crime. In 2014, the Police Staff Association took legal action against the government seeking compensation.
Police won their suit against the government in the Supreme Court. The court ordered that the officers be compensated. However, the then government appealed. Officers won last May.
Days before the election, former Prime Minister Perry Christie promised to pay officers. He said the first payment would be made on May 29 and the second in the next budget cycle.
The then opposition Free National Movement (FNM) said an FNM administration would ensure officers are paid the millions of dollars owed to them. A date has not been announced for the next payout for officers.
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